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Insurance Leaders Predict TRIA Renewal, Flood Delay

A survey of insurance industry leaders at the recent Insurance Information Institute’s Property and Casualty Insurance Joint Industry Forum shows that 93 percent of respondents expect the Terrorism Risk Insurance Act to be reauthorized by Congress, while 75 percent expect Congress to delay the implementation of the Biggert-Waters Flood Insurance Reform Act...
January 24, 2014

A survey of insurance industry leaders at the recent Insurance Information Institute’s (I.I.I.’s) Property and Casualty Insurance Joint Industry Forum shows that 93 percent of respondents expect the Terrorism Risk Insurance Act (TRIA) to be reauthorized by Congress, while 75 percent expect Congress to delay the implementation of the Biggert-Waters Flood Insurance Reform Act (BW-12). Seventy percent of respondents expect a stronger regulatory environment in 2014. In terms of economic gains and profitability, 35 percent of respondents expect improved profitability in personal auto in 2014, 45 percent expect profitability in homeowners’ lines, 40 percent expect improvement in commercial lines and 50 percent expect improvement in workers’ compensation.